Yuan Intervention Eases as Slowdown Curbs Inflows: China Credit

China’s central bank bought the fewest dollars in four months to stem gains in the yuan in June as slowing growth in Asia’s biggest economy damped capital inflows and reduced pressure for the currency to appreciate.

The People’s Bank of China’s purchases of foreign exchange from the nation’s lenders totaled 277.3 billion yuan ($42.8 billion), 26 percent less than in May, according to data released yesterday. Foreign reserves rose $152.8 billion in the second quarter, the least in a year, and government data today showed gross domestic product increased at the slowest pace since 2009.